COEMX gold is holding around a two week high on Wednesday morning in Asia on further bets of a rate cut by the US Federal Reserve (Fed) by year-end. Developments surrounding a potential deal to end the US government shutdown will also be closely watched. As per reports, a record US government shutdown is on a path to end as soon as Wednesday after the Senate passed a temporary funding measure backed by a group of eight centrist Democrats. Meanwhile, few Fed speakers are scheduled to speak later in the global day that could throw further light on Fed's course of action. Currently, the yellow metal is quoting at $4125.10 an ounce, up 0.21% on the day.

Powered by Commodity Insights